Hartford Financial Management Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,981 shares of the information services provider’s stock after acquiring an additional 205 shares during the period. Hartford Financial Management Inc.’s holdings in Alphabet were worth $2,702,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock valued at $8,631,760,000 after purchasing an additional 988,569 shares during the period. Morgan Stanley boosted its position in shares of Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Alphabet by 1,807.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after purchasing an additional 54,077,519 shares during the period. Finally, Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $3,059,614,000. 27.17% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Up 4.4 %
Shares of GOOG stock opened at $124.83 on Friday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $129.55. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.51 and a beta of 1.06. The stock’s 50 day simple moving average is $121.29 and its 200 day simple moving average is $106.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Raymond James raised their price objective on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Robert W. Baird raised their price objective on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. UBS Group raised their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Finally, Oppenheimer decreased their price objective on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.77.
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $123.73, for a total value of $29,695.20. Following the sale, the director now owns 12,800 shares of the company’s stock, valued at approximately $1,583,744. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. In the last quarter, insiders have sold 832,882 shares of company stock valued at $26,102,123. 12.99% of the stock is owned by corporate insiders.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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